Quote Of The Day

Limitations live only in our minds. But if we use our imaginations, our possibilities become limitless.

Jamie Paolinetti

Patrice Motsepe

Founder, Africa Rainbow Minerals
$1.65B
Real Time Net Worth
as of May 24, 2017
$1.6B
Net Worth
as of 2017
  • Age 55
  • Source of wealth Mining
  • Citizenship South Africa
  • Residence Johannesburg, South Africa
  • Status Married
  • Children 3

Net Worth Over Time

$2.65 B
2012
$2.9 B
2013
$2.7 B
2014
$2.2 B
2015
$1.1 B
2016
$1.6 B
2017

Education is at the heart of achieving your dreams

Patrice Motsepe

Africa’s first black billionaire, African Rainbow Minerals founder and chairman Patrice Motsepe, launched a new private equity firm focused on investing in Africa in April 2016. Called African Rainbow Capital, it is a subsidiary of Motsepe’s Ubuntu-Botho Investments. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club. He became the first black partner at law firm Bowman Gilfillan in Johannesburg, and then started a contracting business doing mine scut work. In 1994, he bought low-producing gold mine shafts and turned them profitable. South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license, benefited Motsepe. In 2013, the mining magnate was the first African to sign Bill Gates’ and Warren Buffett’s Giving Pledge, in which he promised to give at least half his fortune to charity.